Yankees Cutting Ticket Prices

Better late than never, but the prices are still high. The Yankees announced that they're cutting ticket prices of their most expensive seats after seeing them remain largely empty during the first two weeks the new stadium was open. (HT: Nevergiveup at LGF)

The team on Tuesday slashed the price of 48 first-row Legends Suite season seats on the outer half of the dugouts and photo cages from $2,500 to $1,250, and 68 others in the final three sections down each foul line from $1,000 to $650.

"There are a few hundred suite seats in our premium locations that have not been sold on a full season basis," Yankees managing general partner Hal Steinbrenner said in a statement. "As a result, and for many of our fans who have already purchased full season suite seats in such premium locations, the Yankees are announcing today a program that adjusts certain prices and benefits."

New York said the reductions will apply to this season only.

(snip)

Those who bought $2,500 first-row season tickets in the 11 sections surrounding the plate that weren't reduced will receive an equal number of free first-row tickets for the rest of the season. Those who bought $1,250 first-row seats in the first two sections past each photo cage will receive free seats for 24 games.

The prices were set based on what the team thought the market would bear, but they were wrong. I see that the team is also making good on those people who already purchased seats at the stadium in those affected sections.

What I think will be interesting is whether the team will raise those ticket prices next year. The jury's out on that.